September jobs report
The Commerce Department will release its monthly survey of America's job market on Tuesday at 8:30 AM EDT. Follow this space for live updates and reaction.
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8k new jobs in credit intermediation services & related activities in Sept. great news if you love credit intermediation/related activities!by Ryan McCarthy via twitter 10/22/2013 1:07:28 PM -
The most interesting nugget to come out of this month's jobs report seems to be the addition of 691k full-time jobs compared to the loss of 594k part-time jobs, which is good news. On Twitter, Ben White notes it "suggests talk of Obamacare creating a 'part-time' work force was wrong." -
Bonnie Baha, who heads Global Developed Credit at DoubleLine, tells Reuters:
"Incredibly weak payroll number this morning. This data was compiled prior to the government shutdown so one can only speculate that the recent stalemate in Washington, which surely shaved a few tenths of a percentage point from fourth quarter GDP growth, has exacerbated the problem. The growing unease among the business community with respect to adding capital investment along with adding jobs to the workforce due to inability of Washington to do anything other than kick the can down the road yet again is another worrisome trend." -
The fears about Obamacare changing the workforce from full-time to part-time seem to be unfounded so far. Not only are full-time workers up over the last year, as mentioned before, but average weekly hours have also remained steady over the last year in most industries. Leisure and hospitality, for example, has remained flat at 26 hours per week, and education and health services hasn't changed from 32.9 hours a week.
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America's mediocre job market, in 6 charts reut.rs/1ib9oHnby Ryan McCarthy via twitter 10/22/2013 1:32:11 PM
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Here's a worrying stat: The rising number of discouraged workers over the last year are overwhelmingly women. The total number of discouraged workers -- those who have not looked for work in 4 weeks because they think they won't be able to find a job, even though they want one -- has risen by 50,000 since September of last year (802k to 852k).
But, the number of discouraged male workers is down to 462k from 489k, a drop of 27,000. The number of discouraged women, on the other hand, is up to 391k from 313k, a full 78,000. -
But seriously, if the Fed is serious about not tapering until there's "substantial improvement," QE3 could be here awhile.by ObsoleteDogma via twitter 10/22/2013 1:39:42 PM
Biden says United States would come to Taiwan's defense
BALTIMORE (Reuters) -The United States would come to Taiwan's defense and has a commitment to defend the island China claims as its own, U.S. President Joe Biden said on Thursday, though the White House said later there was no change in policy towards the island.